Jack in the Box (NASDAQ:JACK) Price Target Cut to $47.00 by Analysts at The Goldman Sachs Group

Jack in the Box (NASDAQ:JACK) had its price objective cut by equities researchers at The Goldman Sachs Group from $55.00 to $47.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has a “sell” rating on the restaurant operator’s stock. The Goldman Sachs Group’s target price indicates a potential upside of 3.66% from the company’s current price.

JACK has been the subject of a number of other research reports. Royal Bank of Canada cut their price objective on shares of Jack in the Box from $75.00 to $70.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. TD Cowen reduced their target price on shares of Jack in the Box from $57.00 to $50.00 and set a “hold” rating on the stock in a research note on Wednesday, October 16th. Loop Capital decreased their target price on shares of Jack in the Box from $87.00 to $70.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Bank of America reduced their price target on shares of Jack in the Box from $77.00 to $72.00 and set a “buy” rating on the stock in a research report on Monday, August 19th. Finally, Wedbush lowered their price objective on Jack in the Box from $68.00 to $60.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Jack in the Box currently has an average rating of “Hold” and a consensus target price of $65.06.

Jack in the Box Stock Performance

Shares of JACK traded down $0.44 during mid-day trading on Monday, hitting $45.34. 99,123 shares of the company were exchanged, compared to its average volume of 502,295. The stock has a market cap of $879.14 million, a price-to-earnings ratio of 7.98, a price-to-earnings-growth ratio of 0.63 and a beta of 1.94. Jack in the Box has a 1-year low of $40.84 and a 1-year high of $86.20. The company has a 50 day moving average of $47.11 and a 200-day moving average of $52.14.

Jack in the Box (NASDAQ:JACK) last released its earnings results on Tuesday, August 6th. The restaurant operator reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.14. Jack in the Box had a negative return on equity of 16.46% and a negative net margin of 2.30%. The business had revenue of $369.17 million for the quarter, compared to the consensus estimate of $371.81 million. During the same quarter last year, the business posted $1.45 earnings per share. The business’s quarterly revenue was down 7.0% compared to the same quarter last year. Research analysts anticipate that Jack in the Box will post 6.22 earnings per share for the current fiscal year.

Insider Transactions at Jack in the Box

In related news, CFO Brian M. Scott sold 696 shares of Jack in the Box stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $48.66, for a total value of $33,867.36. Following the completion of the transaction, the chief financial officer now owns 13,201 shares in the company, valued at approximately $642,360.66. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Jack in the Box

Several hedge funds and other institutional investors have recently made changes to their positions in JACK. EntryPoint Capital LLC raised its holdings in Jack in the Box by 73.2% in the first quarter. EntryPoint Capital LLC now owns 866 shares of the restaurant operator’s stock valued at $59,000 after acquiring an additional 366 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Jack in the Box in the 1st quarter valued at approximately $97,000. PNC Financial Services Group Inc. increased its position in shares of Jack in the Box by 9.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,993 shares of the restaurant operator’s stock valued at $163,000 after purchasing an additional 179 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Jack in the Box in the 3rd quarter valued at $185,000. Finally, Selway Asset Management purchased a new stake in shares of Jack in the Box during the 3rd quarter worth $228,000. Hedge funds and other institutional investors own 99.79% of the company’s stock.

Jack in the Box Company Profile

Jack in the Box Inc operates and franchises Jack in the Box and Del Taco quick-service restaurants in the United States. The company was founded in 1951 and is headquartered in San Diego, California.